Secrets to choose the best credit
Borrowing money from a financial institution is a measure that many people have taken at some point in their lives to meet some goal. Whether you buy a product, pay for some vacations and even start your own business. And it is that a credit can serve all these things and much more, and obtaining it does not have to be as complicated as it seems.
Banks and financiers provide the necessary tools so that, who needs it, can access the money you are looking for, providing some requirements and demonstrating that you are willing to meet the payments. But there are two big problems that hurt people.
In the first place, many think that the process is really long, tedious and complicated, and that is why they are not encouraged to ask for the loan they need. Secondly, another group does not know what the best loan is and they end up confused, without really knowing what they should apply for.
Then, if you are part of any of these groups, pay attention because after reading this note you will know how to ask for the money you need and who to ask for without risking mistakes.
Know how much you can pay monthly
The first and most important step before applying for credit is knowing how much money you can pay at the end of the month. You need to organize your income and expenses, that is, how much you are paid and everything that will come out of your portfolio to cover your obligations. Once you comply with everything, the money that remains will be what you have available to return once you ask for the credit.
Compare interest rates
Do not marry any bank without first comparing interest rates. Some charge more than others and it is necessary to assess whether they suit you or not. How to do it? Using web comparators like Marjun Wayne.
Look at the additional costs
Don’t forget that each loan includes fees for commissions, insurance, and other additional expenses. Take them into account as another element. A bank may have a very low interest rate, but commission charges are very high and end up unbalancing the balance.
Take into account the conditions of each entity
Some entities may have a longer or shorter term, offer minimum amounts or other conditions that modify the credit a bit. Find out and pay attention.
Check with your usual bank for special benefits
If you receive the salary in the same bank monthly or have a credit card in an entity, ask about the credit there, since in some cases they offer special benefits or rates for those who are already clients.
Do not apply to too many credits at the same time
If you start applying for many credits at once to see “which one you link with,” you may not have the good results you expect, as you will look desperate before financial institutions.
Do not use your credit cards before applying for the loan
If you have any pending purchase, especially if it is large, maybe you should do it later. Why? Because using your credit card balance, you reduce your ability to pay, and this is a point that financial institutions will evaluate when deciding whether or not to approve the loan.
Justify your income properly
In the application, make sure you have the requested papers. Free investment credits do not ask for many papers or supporting documents, but you must show that you receive a monthly salary and the clearer it is with that, the faster the evaluation will pass.
Cancel previous debts
Do not forget that one of the most important points is to have a good credit history, that is, to demonstrate that you have been a good customer before and that you currently have the adequate payment capacity to return the money you are asking for. In other words, if you are committed to other credits, you are less likely to be accepted for a new application.
Solve all your questions with the advisor
Do not wait for the credit to be approved to start asking about things that have not been clear to you. Before signing the commitment, resolve all doubts with the chosen bank, and thus avoid further confusion.
Take these tips into account both to apply for the credit and to make it easier for the bank to say yes, and once you have it, be responsible for payments to ensure a good financial history.